Encore Wire closed at $126.58 in the latest trading session, marking a +0.68% move from the prior day. This move lagged the S&P 500's daily gain of 1.14%. Elsewhere, the Dow gained 1.12%, while the tech-heavy Nasdaq added 0.05%.
Wall Street will be looking for positivity from Encore Wire as it approaches its next earnings report date. On that day, Encore Wire is projected to report earnings of $4.63 per share, which would represent a year-over-year decline of 45.59%.
Any recent changes to analyst estimates for Encore Wire should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Encore Wire is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Encore Wire currently has a Forward P/E ratio of 4.68. Its industry sports an average Forward P/E of 7.54, so we one might conclude that Encore Wire is trading at a discount comparatively.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 18, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Encore Wire (WIRE) Gains But Lags Market: What You Should Know
Encore Wire closed at $126.58 in the latest trading session, marking a +0.68% move from the prior day. This move lagged the S&P 500's daily gain of 1.14%. Elsewhere, the Dow gained 1.12%, while the tech-heavy Nasdaq added 0.05%.
Wall Street will be looking for positivity from Encore Wire as it approaches its next earnings report date. On that day, Encore Wire is projected to report earnings of $4.63 per share, which would represent a year-over-year decline of 45.59%.
Any recent changes to analyst estimates for Encore Wire should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Encore Wire is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Encore Wire currently has a Forward P/E ratio of 4.68. Its industry sports an average Forward P/E of 7.54, so we one might conclude that Encore Wire is trading at a discount comparatively.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 18, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.